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ARTICLE · 18 MARCH 2014

Is Insolvency Different?

This article considers the tension between the Privy Council decision in Cambridge Gas and the Supreme Court decision in Rubin.

Isle of ManInsolvency/Bankruptcy/Re-Structuring

This article considers the tension between the Privy Council decision in Cambridge Gas and the Supreme Court decision in Rubin both concerning the limits of the common law jurisdiction to assist foreign courts in insolvency proceedings.

Introduction

The Isle of Man courts are internationalist in outlook. This is inevitable given the global nature of commercial activity that operates in and through the Island, and the movement of individuals to and from the Island. The Isle of Man courts endeavour to assist the courts of foreign friendly nations, provided the Isle of Man court has jurisdiction to do so. This article concerns assistance in relation to foreign corporate insolvency proceedings, and considers the limits of that assistance in the light of the Cambridge Gas1 and Rubin2 cases. In the former the Privy Council (as the final Manx appeal court) appeared to widen the scope for such assistance; however the Supreme Court in Rubin disagreed. The Isle of Man

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